Wasatch Advisors LP Sells 121,065 Shares of DXP Enterprises, Inc. $DXPE

Wasatch Advisors LP reduced its holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 633,641 shares of the industrial products company’s stock after selling 121,065 shares during the period. Wasatch Advisors LP owned about 4.08% of DXP Enterprises worth $88,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in DXP Enterprises in the first quarter worth about $782,000. Kestra Private Wealth Services LLC lifted its stake in DXP Enterprises by 43.9% during the first quarter. Kestra Private Wealth Services LLC now owns 5,355 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,633 shares during the period. Evolve Private Wealth LLC boosted its holdings in DXP Enterprises by 6.9% during the first quarter. Evolve Private Wealth LLC now owns 5,400 shares of the industrial products company’s stock valued at $755,000 after purchasing an additional 350 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in DXP Enterprises by 58.9% during the fourth quarter. Hsbc Holdings PLC now owns 2,994 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Virtue Capital Management LLC grew its stake in shares of DXP Enterprises by 94.7% in the 4th quarter. Virtue Capital Management LLC now owns 9,160 shares of the industrial products company’s stock valued at $987,000 after purchasing an additional 4,456 shares during the period. Institutional investors own 74.82% of the company’s stock.

Analysts Set New Price Targets

DXPE has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of DXP Enterprises in a report on Friday, May 22nd. Loop Capital set a $154.00 price target on DXP Enterprises in a research note on Monday, March 2nd. Zacks Research lowered DXP Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen lowered DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Freedom Capital cut DXP Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, DXP Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

Insiders Place Their Bets

In related news, CMO Paz Maestas sold 10,000 shares of DXP Enterprises stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $164.37, for a total value of $1,643,700.00. Following the completion of the transaction, the chief marketing officer directly owned 590,262 shares of the company’s stock, valued at $97,021,364.94. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy P. Halter sold 6,842 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $141.59, for a total transaction of $968,758.78. Following the sale, the director directly owned 30,000 shares in the company, valued at approximately $4,247,700. This represents a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 22.00% of the company’s stock.

DXP Enterprises Stock Performance

NASDAQ:DXPE opened at $162.71 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 30.41 and a beta of 0.99. The company has a current ratio of 2.98, a quick ratio of 2.56 and a debt-to-equity ratio of 1.60. DXP Enterprises, Inc. has a 1 year low of $84.04 and a 1 year high of $183.91. The firm has a 50 day moving average of $158.73 and a 200-day moving average of $140.66.

DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.12). DXP Enterprises had a net margin of 4.27% and a return on equity of 18.16%. The business had revenue of $521.66 million for the quarter, compared to analyst estimates of $531.00 million. As a group, sell-side analysts anticipate that DXP Enterprises, Inc. will post 6.2 EPS for the current fiscal year.

DXP Enterprises Company Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.